---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-127159"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2023-12-19T23:59:59+00:00"
generated_at: "2026-06-07T10:47:25.181879+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IOAC sponsor affiliate invests $5M at $3/share; ~2.4M shares redeemed ahead of business combination vote

## Summary
- Ananda Trust (sponsor affiliate) agrees to buy 1,666,666 IOAC shares at $3.00/share ($5M total), contingent on business combination closing.
- Lock-up amendment extends trading restrictions on Ananda Trust's IOAC securities for 12 months post-close.
- Approximately 2,413,764 IOAC public shares (significant portion of trust) have been submitted for redemption as of Dec 18.
- Business combination meeting adjourned to Dec 19, 2023; redemption requests may be withdrawn with IOAC consent.

## SEC filing metadata
- accession: 0001104659-23-127159
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2023-12-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000110465923127159/0001104659-23-127159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000110465923127159/tm2333239d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-127159
- JSON: https://secwatch.observer/filing/0001104659-23-127159.json
- Plain text: https://secwatch.observer/filing/0001104659-23-127159.txt

## Key facts
- Material Agreements
  Zoomcar Holdings, Inc. amended Lock-Up Amendment with Ananda Small Business Trust (effective 2023-12-19).
  - Action: amendment
  - Counterparty: Ananda Small Business Trust
  - Effective: 2023-12-19
  source text: IOAC and Ananda Trust entered into an amended lock-up agreement (the “Lock-Up Amendment”) containing restrictive trading provisions with respect to all securities held by Ananda Trust
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923127159/0001104659-23-127159-index.htm
- Material Agreements
  Zoomcar Holdings, Inc. entered into Closing Subscription Agreement with Ananda Small Business Trust valued at 1,666,666 IOAC Class A ordinary shares at a price of $3.00 per share (effective 2023-12-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Ananda Small Business Trust
  - Value: 1,666,666 IOAC Class A ordinary shares at a price of $3.00 per share
  - Effective: 2023-12-19
  source text: IOAC and Ananda Small Business Trust (“Ananda Trust”), an affiliate of Innovative International Sponsor I LLC, IOAC’s sponsor (the “Sponsor”), entered into a subscription agreement (the “Closing Subscription Agreement”), pursuant to which Ananda Trust agreed to purchase 1,666,666 IOAC Class A ordinary shares at a price of $3.00 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923127159/0001104659-23-127159-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.